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CityDev
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sengkang
Master |
28-Apr-2023 10:56
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Below $7.00 just buy and lock up. Cheep cheep. Special window of entry opportunity imo. lol
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Joelton
Supreme |
28-Apr-2023 10:44
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CDL&rsquo s Newport Residences preview postponed as developers take stock of ABSD hikes
CITY Developments Ltd (CDL) has pushed back the launch of its prime downtown project Newport Residences, which sits in the prime residential segment that analysts have said will take a direct hit from latest government cooling measures.
Newport Residences, a 246-unit freehold luxury development at Anson Road, had been scheduled to start previews this weekend. Prices are said to be pitched north of S$3,000 per square foot (psf).
The project is coming up on the site of the former Fuji Xerox Towers building in the Central Business District (CBD), which is in the Core Central Region (CCR). Two other luxury projects are also in the works in the CBD area - the 748-unit Marina View Residences condo on the Marina View Government Land Sales (GLS) site, developed by IOI Properties, and a 215-unit project at the former AXA Tower site on 8 Shenton Way, developed by a Perennial Holdings-led consortium.
&ldquo With the latest property-related measures&hellip the market will need time to absorb the news. In view of this, we will be rescheduling the preview for Newport Residences, which was originally slated to commence this weekend,&rdquo a CDL spokesman on Thursday (Apr 27) in response to queries from The Business Times. &ldquo We will monitor market conditions closely and unveil its launch at an appropriate time.&rdquo
This comes as the Singapore government stepped up additional buyer&rsquo s stamp duty (ABSD) rates for residential properties, in a fresh round of cooling measures aimed at curbing investment demand.
Foreigners, typically high-net-worth individuals who have been buying top-end condos in the prime CCR region, will bear the brunt of the increases. ABSD on any residential property purchase by foreigners has doubled from 30 per cent to 60 per cent.
According to an analysis by JLL, foreign buyers made up 15.5 per cent of non-landed private property purchases in the CCR, in the first quarter of 2023. Against that, foreign buyers accounted for just 2.3 per cent of sales in the mid-tier Rest of Central Region (RCR) and 2.3 per cent in mass-market Outside Central Region (OCR) projects.
All eyes are now on two new RCR residential projects that have just gone to market &ndash Blossoms By The Park in the one-north hub and The Continuum in the east. They are among the 30-something new private housing projects slated to be launched this year.
EL Development started previews for Blossoms By The Park on Apr 14, pricing the project between S$2,200 and S$2,400 psf.
Located at 9 Slim Barracks Rise in District 5, the 99-year leasehold development houses 275 residential units.
EL Development&rsquo s managing director Lim Yew Soon told BT the company will proceed with Blossoms By The Park&rsquo s sales launch this Saturday.
&ldquo There will definitely be some impact on the demand due to the measures. However, I believe that the impact will be limited as Blossoms By The Park is in the one-north area and the buyers in this area are usually Singaporeans and PRs rather than foreigners,&rdquo he said.
Anson Lim, UOL general manager of residential marketing, told BT the developer is likely to proceed with the planned launch of 99-year leasehold Pinetree Hill at Pine Grove in June or July this year, as the project would continue to draw locals buying for owner occupation.
He was responding to BT&rsquo s queries on whether UOL might postpone the launch of its two upcoming projects of Watten Estate Residences in Bukit Timah and Pinetree Hill in Ulu Pandan.
Last Friday, Hoi Hup and Sunway started previews of The Continuum on Thiam Siew Avenue, at prices starting from about S$2,580 psf. BT has reached out to Hoi Hup for comments.
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tongphlp
Supreme |
28-Apr-2023 10:13
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1 day drop 0.50c another day up 0.10c subsequent day drop $1 this is SGX
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Leenyah
Member |
28-Apr-2023 08:07
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If property sector accounts for 33% of their business revenue, it simply means 33% cut, as sales transaction from potential rich buyers will pause for 6 to 12 months. Local buyer's will wait and see, hoping price drops further. Quite drastic measure this round
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pasttime
Supreme |
27-Apr-2023 17:47
Yells: "gold silver are real money. not others iou." |
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most important don' t fight with the shorts. let them be. when they hit bottom and cannot move it down. they have to cover then price will recover. that is the point to buy. buy is small chunk as really cannot tell exactly how they play. but if one keep bullets and buy bit bit average should be better price. | ||||
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pasttime
Supreme |
27-Apr-2023 17:42
Yells: "gold silver are real money. not others iou." |
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i wait a few days to see how far shorts will bring it to. if 10 days bring down $5. ie about $2.30 . i will add as that is way too much discount from their nta. dividend yield will be around 7%+. this is a global hotel, student accomodations, property developer. their launch projects percetnage sold mostly is self funding. going forward just 1 set of buyer got strike off. over reactions is where opportunities lies. shorts are your money angel. they don' t short down how to buy cheap. |
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michaeltan
Master |
27-Apr-2023 15:43
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one day drop $0.50.. 10 days will drop $5.00... possible?
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pasttime
Supreme |
27-Apr-2023 14:20
Yells: "gold silver are real money. not others iou." |
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far too many property agents. that is employment own time own target. is it a waste of man power? when people go into senior age and decent employment of the trade one is trained in get difficult to come by people go into trade that is of lowest resistant to entry. many of those 30k + agents probably did not make a single sale. or enough to stay alive if they only do real estate agent business. no need to worry about the number. only important thing to house buyers is a decent size affordable unit. important to developers is can find land, can sell. land is getting difficult to comeby at decent price. so people look overseas. but other place got their own local players, so it is always a diffult for a start as well. but to sell down on cooling measures when the share price of cityd is already on sale is a crazy thing to do. |
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honesty
Master |
27-Apr-2023 13:48
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without prejudice spore should not emulate hk, ppl there are stifled,living in very old quartes/homes, govt not proactive in renewalship, should buy up all those old properties and build new ones yet very high up, many properties owned by pte landlords who are multi-billionaire, SHAM SHUI PO eg, so damn old yet could withstand heavy storm may to sept developers been not so savvy by offering very high comm to agencies and agents rather than discounting units to move the sale and advertising aggressively on all social media, and developers should collectively do it instead of over reliant on agencies and agents. Now they should be looking into it to pay very low comm and advertise more on their own. agents/agencies are dependent on high comm to own all the luxuries and they are the very indirect cause to jobs offered to foreigners yet sporeans are so fixated over this employment. over 34k agents! madness just a city state with so many agents and all think only of making one deal a year say 3..5% comm not to say up to 8%, 1.5 million is almost the lowest quantum for a liitle 2 bedrooms OCR area, before this latest measure would have earned an agent 52.5k and 10 to 30% (for rookies 30%) earned by their agencies and another 3 to 5%% for overriding comm to their banch leaders. coes and some resale private will be down next few months when income is being affected by less commission from developers, hopefully more units at very discounted prices are pushed to the market for developers to still make reasonably good money
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pasttime
Supreme |
27-Apr-2023 13:22
Yells: "gold silver are real money. not others iou." |
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let' s look at immediate impact on their developments. new port residences, q2 23 ,will have impact but really the percentage of potential foreigner shoo away by cooling measure can easily be taken up by local as it is very good locations. the myst, 2h 23, this condo is within 1 km of 3 primary school. bukit panjang primary, chij our lady queen of peace zheng hwa primary. if they don' t price too aggressive this one should sell ok ok. bukit batok west ave 5 ec ,1h 24, ec only qualify singaporean can buy so think no impact. redevelopment of central sq and mall. same as new port . time in 2024 by then it will be another game. if an area is quiet there are ways to make it busy. just like a new house. if you invite people, at least some will come. if a place has blinking or lights or colorful features. people will walk across the river. events and thing will draw people. mother days is too near. next major festival is moon cake festival. if one like do a make lantern competitions for schools with a price. many people will be there. to support their teams. and many others to look see. an orchid festival with decorations of all kinds of orchis and sale./auction of rare orchid in autmn/winter time will be nice to draw tourism who will go thru no flower season. a place is cool naturally. but it can be make warm by human effort. |
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mav1ryan
Veteran |
27-Apr-2023 13:18
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If you look at the chart, MA18 already dipped below MA40, and MA40 is moving downward to intercept MA70... Doesn' t look too promising even on mid-long term view... I think this freezing measures will not push up rental market as the rental market is already very crazy... expecting rental market to cool off as foreigners changing from private condo to HDB (some left the country), and those from HDB are leaving the country... |
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hokpin
Supreme |
27-Apr-2023 12:33
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It is a freezing measures for foreigner to buy house anymore. Will it push up the rental market again this year? | ||||
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mav1ryan
Veteran |
27-Apr-2023 12:03
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My property agents already told me foreigners who had been actively looking for a private unit in Singapore for last couple of months, had stopped the house hunting.. this time round government is shutting the foreigners to buy our houses for sure. I think many new developments will up lorry.
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honesty
Master |
27-Apr-2023 12:02
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agreed,SHARE PRICE will go down if developers dont do direct marketing VIA ALL SOCIAL MEDIA ,hopefully DEVELOPERS DO IT RIGHT NOW developers been making too much money INCLUDING AGENTS AND AGENCIES, developers been paying 2.5 to 6% even 8% for slow moving projects TO EXECUTE FAST SALE, SOON ENBLOC WILL STOP SINCE RECYCLING IS DIFFICULT FOR ENBLOC. HEARD DEVELOPERS ARE TURNING EXTREMELY CAUTIOUS TOWARDS AGENTS AND AGENCIES WHICH HAVE BEEN MAKING LOTS OF BIG MONEY FROM THE HUGE COMMISSION NOW IS TIME TO IMPLEMENT ABSD/SSD FOR HERITAGE SHOPSHOUSES, MANY FRESH WAVES OF FOREIGN INVESTORS INCL CHINA ARE BUYING UP AND ALSO SELLING FAST without incurring these duties. MOF/MND/MAS pls do it, few days ago, edgeprop singapore said the shophouses shot up to more than 7k psf,never before UPGRADERS WILL SOON BE ABLE TO BUY MORE COMPETITIVELY FROM DEVELOPERS AND UPGRADERS CAN SELL MORE CHEAPLY THEIR HDB RESALE. NEWLY WED CAN NOW BUY MORE COMPETITIVELY TO RAISE THE BIRTH RATE AND DOWNGRADERS CAN DO LIKEWISE SELLING THEIR PRIVATE PROPERTIES COMPETITIVELY AND BUYING RESALD HDB COMPETITIVELY WIN-WIN FOR ALL , GOOD JOB BY THE REGULATORS FOR NOT STAYING BLIND OR PASSIVE. DO LOOK AT SHOPHOUSES, F& B OPERATORS/TENANTS WORKING HARD IN THE KITCHEN AND PAY HIGH RENT TO THESE LANDLORDS. and now food portion is small compared to a year or two ago
DEVELOPERS WILL BE EXPECTED TO DROP PRICES TO MOVE THE SALE N VOLUME SALE STILL STAYS
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Leenyah
Member |
27-Apr-2023 11:05
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Might go to 7.00. Today is just day 1 | ||||
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tongphlp
Supreme |
27-Apr-2023 10:59
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cheap, cheaper, cheapest..
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pasttime
Supreme |
27-Apr-2023 09:40
Yells: "gold silver are real money. not others iou." |
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too early. wait for shorts to bring down to lower price in next few days then hoot them pain pain. this round cooling measure will limit property price up. more difficult to sell but think will still sell out as each development top. not much impact to bottom line. |
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tedlim
Veteran |
27-Apr-2023 09:26
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Time to pick up some cheap durians.. | ||||
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pasttime
Supreme |
27-Apr-2023 09:03
Yells: "gold silver are real money. not others iou." |
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sure got impact on the sale of singapore property to foreigner. that will drop to zero. pr some impact. local no impact. but local buyer may stop buy and look see if price correct lower for them to buy. really fat hope. the most stable price. and sale will move more towards near top. wonder what is the real percentage of that to their overall sale. as singapore property development is reduing in numbers over the years. increasing redevelopment to max plot ratio. increasing hotel rooms and rates to contribute more to bottom line. all these in global basis not just singapore. no wonder boss said look at shanghai. guess land there may be going at reasonable price now that the property development factories are in deleveraging mode.less competition for land less likely to bid high. |
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investshare
Supreme |
27-Apr-2023 08:43
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Will impact by latest cooling? | ||||
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